Article Text
PAY Dec. made the superior court of Merced this morning by E. Walles. receiver of the First Bank of Livingston, for to pay dividend No. on the deamount of 40 per cent the and per the savings deposits of said bank
816. First Bank (Livingston, CA)
Bank Information
- Episode Type
- Suspension → Closure
- Bank Type
- state
- Start Date
- January 1, 1926*
- Location
- Livingston, California (37.387, -120.724)
Metadata
- Model
- gpt-5-mini
- Short Digest
962ad0f7
Response Measures
None
Description
The First Bank of Livingston closed its doors in May 1926 and was placed in receivership; receiver paid dividends (Dec 1926, July 1927) and liquidated assets. The bank did not resume as the same institution — its building was sold in 1928 and a branch of United Security Bank & Trust was to open, indicating permanent closure of the original bank. Articles mention frozen assets, assessments on stockholders and alleged forgery by the former president, supporting a bank-specific adverse information cause for the suspension/closure.
Events (5)
1.
January 1, 1926*
Receivership
- Newspaper Excerpt
- receiver of the First Bank of Livingston ... receiver of the old Farmers and Merchants National Bank of Merced. ... the receiver charges ... (and) Ralph Stanley, receiver, will remain in Livingston some time to close up its affairs and payer of dividends indicates receivership was in place after closure in May 1926.
- Source
- newspapers
2.
May 21, 1926
Suspension
- Cause
- Bank Specific Adverse Info
- Cause Details
- Bank closed May 1926 with assets ... badly frozen; assessments levied on stockholders and alleged wrongdoing by former president (forgery) indicated solvency problems.
- Newspaper Excerpt
- which closed its doors on May 21st, 1926.
- Source
- newspapers
3.
December 5, 1926
Other
- Newspaper Excerpt
- pay dividend No. on the deamount of 40 per cent ... savings deposits of said bank (Dec. 1926 dividend payment planned).
- Source
- newspapers
4.
July 25, 1927
Other
- Newspaper Excerpt
- petition the superior court of Merced County July 25th to allow the payment of the second dividend ... closed its doors May 21st, 1926. He will ask for permission to pay 10 per cent commercial and 16 2-3 per cent savings accounts, thus bringing the total paid ... to 50 per cent.
- Source
- newspapers
5.
April 17, 1928
Other
- Newspaper Excerpt
- United Security Bank & Trust company ... bid of $8,000 for the building and lot of the defunct First Bank of Livingston has been accepted and a branch will be opened here in a short time ... the First Bank of Livingston closed in May, 1926.
- Source
- newspapers
Newspaper Articles (10)
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Article Text
FORMER BANKER IS HELD AS A FORGER FACES ALLEGATIONS MADE BY RECEIVER OF MERCED BANK MERCED. May 20.-G. H. Winton. until 1924 president of the First Bank of Livingston. which closed its doors in May, 1926, was arrested today on forgery charge preferred by Henry P. Hilliard, receiver of the old Farmers and Merchants National Bank of Merced. Winton is mayor of Livingston. Hilliard alleges that Winton forged the name of John Rhodes of Los Banos to a note for $7,900. payable to the Farmers and Merchants Bank. The receiver charges that Winton brought the note to the bank, and that the forgery was not discovered until the bank attempted to collect from Rhodes. The bank stands to lose the $7,900. with interest at per cent from March 1st. 1926, according to the receiver.
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BANK RECEIVER LIVINGSTON PLANS SECOND DIVIDEND Will Present Petition Before Merced Court; Has Offer To Sell Two Ranches LIVINGSTON (Merced Co.), July receiver of the First Bank Livingston, yesterday that he will pecourt of Merced tition the superior County July 25th. allow the payment the on depositors' claims the Institution. closed its doors on May 1926. He will for permission to pay 10 per 16 2-3 cent savings counts, thus bringing the total paid on accounts each department up 50 first was paid the latter part of Novemthe same date he will ask per. mission sell two the bank on which owned by received offers. One of these he twenty-acre tract located town on has mile received offer of Hille and the other about miles Livingfour which Mrs. Sarah offers to purthe chase for $2,250.
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BANK RECEIVER AT LIVINGSTON PLANS SECOND DIVIDEND Will Present Petition Before Merced Court; Has Offer To Sell Two Ranches LIVINGSTON (Merced July Stanley, of the First Bank anthat he will tition the of Merced allow the County July of the second dividend on payment depositors' claims against the Inwhich closed its doors on stitution, May 21st, 1926. He will ask for permission to pay 10 on 2-3 per the total paid counts, up 50 first dividend was paid the latter part of Novem- On the same date he will ask perto two parcels of bank and on which owned by the has received these tract one of he has offer of Hille of Turlock, and the other tract lying about Livingfour miles which Mrs. Sarah tenant, offers to purthe present for $2,250.
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BANK RECEIVER AT LIVINGSTON PLANS SECOND DIVIDEND LIVINGSTON (Merced Co.). July the First Bank anyesterday that he will tition the of Merced County on July 25th. allow the payment of the second dividend depositors' claims the closed its doors May 1926. He will for permission to pay thus the total paid department up 50 per first dividend was paid the latter part of NovemOn the same date he will ask permission to sell parcels of land owned by the and on which he offers. these mile he has an offer Hille Turlock, and the other tract lying about four miles from which Mrs. Sarah Tourtellot, the offers to purfor $3,250.
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BANK RECEIVER AT LIVINGSTON PLANS SECOND DIVIDEND LIVINGSTON (Merced July the First Bank Livingston, anyesterday that he will tition the of Merced County on July allow the payment the second dividend depositors' claims the Inclosed its doors May 21st, 1926. He will ask for permission to pay 2-3 cent the total department up 50 per The first dividend paid the latter part of November. On the same date he will ask permission sell two parcels owned by the bank on which he offers. these one mile of received an offer Hille Turlock, the other lying about four miles southwest Livingwhich Mrs. Tourtellot, the offers to purchase for $2,250.
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BANK RECEIVER LIVINGSTON PLANS SECOND Will Present Petition Before Merced Court; Mas Offer To Sell Ranches July of the First Bank Livingaton, day that he will petition the perior court Merced county July allow the payment the second dividend depositors' claims against the institution which he has received offers. One 1926. He will ask for permission to pay 10 per on accounts and 23 cent on savings accounts, thus bringing the total paid on accounts in each department to 50 per cent. The first dividend was pakl the part of November. On the same date he will ask permission two parcels of land owned by the bank and on weich he has offers. One these tract located mile west of which he has an offer $3,500 Hille of Turlock, and the other thirty. tract lying about four iniles from Livingston, which Mrs. Snrah the present tenant, offers to purchase for 250.
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BANK RECEIVER LIVINGSTON PLANS SECOND DIVIDEND Will Present Petition Before Merced Court: Has Offer To Sell Ranches LIVINGSTON, July Stanley the First Bank Livingston, announced yesterthat he petition the Merced county July allow the payment the second dividend on depositors' claims against the institution he has received offers One 1926. He will ask for permission pay 10 per commercial accounts and 2-3 per cent savings thus bringing total paid on in department to 50 per up first was paid the latter part of On the same date he will permission sell two parcels of land owned by the bank and weich he has offers. One these twenty-acre tract located mile west of town which he has an offer $3,500 from Hille of Turlock, and the other thirty. acre tract lying about miles southwest from Livingston, which Mrs. Sarah Tourtellot, the present tenant. offers to purchase for $2,250.
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SEGOND IN LIVINGSTON IS WOOD'S PROMISE Ten Per Cent to Be Paid on Commercial Deposits Soon Settlement in Full Intimated in Statement from Bank Receiver LIVINGSTON. July 26. Will Wood, state superintendent of banks within a few days will declare another dividend to depositors of the First Bank of Livingston. according to announcement today. The dividend will amount to 10 per cent in the commercial department and 16 2-3 per cent in the savings department. As soon as the superior court has approved the payment of the dividend. Special Deputy Ralph Stanley will mail the dividend checks to depositors of the bank. The bank was closed in May. 1926. and the first dividend was paid in December 1926. The present dividend will make total dividends of 50 per cent in each department to date As to the future prospects of the liquidation, Wood said: "The assets of the First Bank of Livingston, while badly frozen at the time the bank was closed. are being liquidated as rapidly as can be done with the least possible loss. Progress in the collection of the assessment levied upon the stockholders has been very satisfactory more than having been collected to date from this source Most of the American stockholders have responded the assessment, and nearly all of the Japanese stockholders have voluntarily permitted judgments to be taken against them or have paid the assessment "A few stockholders. including the former president of the bank contesting the assessment Be lieving as do in the responsibility of the stockholders as a factor of safety to the depositor, I propose to spare no effort or expense to subject these stockholders to their full measure of responsibility. "If we are as successful in our note collections during the coming year as we have reason to expect. there is great hope that the depositors of this bank will ultimately be paid in full."
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United Security Buys Livingston Building; Bank Will Open Soon LIVINGSTON, April 17. (Special bid of $8,000 by the United Security Bank & Trust company of San Francisco for the building and lot of the defunct First Bank of Livingston has been accepted and a branch will be opened here in a short time, according to announcement here today. The purchaser is Flashes of Life subsidiary of the Bank of Italy. From the News The date for opening the bank has not been announced, but it Of the World understood that M. M. Hunter, formerly director in the Merced Irrigation district, will act as manK INGSTON, ager. ing played hookey and Livingston has been without wandered in some of the sevbank since May. 1926, when the en seas for six years, truFirst Bank of Livingston closed. ant is going back to work for Residents here have done their Canada. A bell buoy picked up banking in Atwater. Merced and off Santiago, Cuba, was identiTurlock since that time. fied by its markings and is The affairs of the defunct bank now bound for Halifax aboard have not been cleared up and ship. It appears serviceable. Ralph Stanley, receiver, will remain in Livingston some time NEW YORK-The latest close up its affairs.